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SHORT PERIOD ANALYSIS: Short period in production refers to a time when some inputs remain fixed. A fixed input is one, whose quantity cannot be changed readily, whereas, a va
define cost its types with curves
Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E
criticism of cournot model
Elasticities of supply and demand Other Demand Elasticities – Income elasticity of demand calculates the percentage change in quantity demanded resulting fro
definition
Distinguish among the terms of trade and the balance of trade for a country. Definition of terms of trade a) The amount of a given amount of export goods essential to buy
Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det
Why is it unusual for yields on longer term notes to be lower than yields on shorter term notes? 2pts b) Why would any investor buy the 2 year note (instead of the 1 year) given it
extenstion n contraction of demand curve
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